RSSThe Senate Banking Committee voted to advance Brian Johnson’s nomination for director of the CFPB to the full Senate.
President Donald Trump picked Johnson for the role in June. Johnson was a Capital One executive who earlier served as deputy director for the bureau and as a policy director for the House Financial Services Committee.
Johnson is expected to be approved by a party-line vote, perhaps before the mid-term elections in November.
Over the summer, in a nomination hearing before the Senate Committee on Finance, Johnson laid out his views on the CFPB.
“Where the CFPB writes clear and durable rules of the road, obeys its own statutory bounds, justly enforces the law and enables consumers to make their own financial decisions, both consumers and market participants win,” Johnson said. “Where the CFPB tries to remake markets according to an ideological agenda, it deprives consumers of choice, restricts their access to financial products and services and drives up costs for providers.”
